Adapthealth Corp (AHCO)
Debt-to-capital ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,094,610 | 2,126,800 | 2,135,620 | 2,169,440 | 2,153,270 | 2,162,090 | 2,170,910 | 2,179,730 | 2,183,550 | 2,187,370 | 1,776,330 | 1,748,830 | 776,568 | 722,730 | 443,248 | 463,553 | 395,112 | — | — | — |
| Total stockholders’ equity | US$ in thousands | 1,458,450 | 1,732,480 | 2,180,940 | 2,159,890 | 2,151,160 | 2,154,370 | 2,133,220 | 2,115,360 | 2,061,910 | 1,990,110 | 1,889,960 | 1,788,280 | 354,889 | 360,999 | 8,491 | -33,173 | -14,520 | 5,000 | 5,000 | 5,000 |
| Debt-to-capital ratio | 0.59 | 0.55 | 0.49 | 0.50 | 0.50 | 0.50 | 0.50 | 0.51 | 0.51 | 0.52 | 0.48 | 0.49 | 0.69 | 0.67 | 0.98 | 1.08 | 1.04 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,094,610K ÷ ($2,094,610K + $1,458,450K)
= 0.59
The debt-to-capital ratio of AdaptHealth Corp has been relatively stable over the past eight quarters, ranging from 0.50 to 0.60. This ratio reflects the proportion of the company's capital structure that is financed by debt. A higher ratio indicates a greater reliance on debt financing, which can increase financial risk due to higher interest payments and potential liquidity challenges.
In Q4 2023, the debt-to-capital ratio increased to 0.60 from 0.56 in the previous quarter, indicating a higher proportion of debt in the company's capital structure. This could be a result of increased borrowing or a decrease in capital. It is essential for investors and analysts to monitor changes in this ratio over time to assess the company's financial health and risk profile. Further analysis of the company's debt levels, profitability, and liquidity position would provide additional insights into its overall financial condition.
Peer comparison
Dec 31, 2023